Are your e-sourcing efforts stalled? Here are three strategies to bolster participation and help you reach the next level:
Mandates: Set clear expectations up front and make e-sourcing part of the procurement process. Examples include:
- Any purchase over a certain dollar amount ($50,000, for example) must be reviewed by the auction team
- Each buyer must complete a minimum number of events per year as a performance metric
- Build auctions into the financial goals of the department
Group Recognition: This is a great way to shine a positive light on spend owners who are hosting e-sourcing projects.
- Reward them for their efforts and encourage them to share their experiences with their peers. Spice things up a bit and make it a fun event – a pizza party, wine tasting, or ice cream social. Keep the focus on the success stories and give participants their moment in the sun.
- Celebrate companywide savings thresholds and recognize each e-sourcing event host with a token of appreciation (i.e. a small award, gift card, or gift basket)
- Watch a live auction with the entire department – make it a party. Celebrate the success of that event while encouraging others to run their own.
Individual Recognition: People loved to be recognized for their hard work. A few ideas:
- Send out a recap after each e-sourcing event to executive leadership summarizing the results and congratulating the merchant on their success. This serves two purposes; 1) rewarding the host and 2) keeping leadership informed of the program. Encourage leaders to send notes of congratulations!
- Recognize category managers who reach a savings threshold, run multiple events, or based on total volume e-auctioned. Acknowledge these individuals with a beautiful trophy at a cocktail party thrown in their honor or even something as simple as a written thank you.
It’s important to remember that consistency is key. Whether you choose mandates, group, or individual recognition be prepared to set and meet expectations. To discuss these or other ideas to help encourage participation and ramp up e-sourcing activity within your organization contact an Intesource account manager.
What approaches have you found to be helpful in keeping employees interested and engaged in your e-sourcing program?